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If we have received a check from customer on 02 feb.10,
deposited in bank on 3rd and check cleared on 5th feb. what
are the journal entries should be passed for all three
days?
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Answer Posted / judson
Debit the bank and credit the customer on 3rd, in-case the check is not honored reverse the entry and raise a debit note for the bank charges.
| Is This Answer Correct ? | 4 Yes | 6 No |
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